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The Corporation of London has been preaching to top financial dogs from the Caribbean on how to keep out dirty money despite the Square Mileâs less than squeaky-clean history on the matter.

Administrators from UK islands in the region gathered at the Guildhall on Friday for a lesson in fraud protection led by Ken Farrow, head of specialist economic crime at the City of London’s police force.

London hasn’t exactly got the best track record in keeping out dirty money. After all, West African fraudsters have successfully planted infiltrators in British banks to embezzle sums running to millions of dollars, while Sani Abacha, the former Nigerian dictator, was able to conduct his dodgy fund dealings through UK financial institutions.

Estimates have put the economic cost of fraud in the UK at £14bn a year. Farrow has asked the Home Office for 30 more officers as his unit struggles with 350 fraud cases at any one time, up a third on last year.

So hasn’t he got enough on his plate without tackling crime elsewhere? “Absolutely. But fraud is a global activity so we have a vested interest in co-operating.”